TABLE OF CONTENTS: 1 EXECUTIVE SUMMARY 1.1 MARKET ATTRACTIVENESS ANALYSIS 16 1.1.1 GLOBAL TRACTION TRANSFORMER MARKET, BY TYPE 17 1.1.2 GLOBAL TRACTION TRANSFORMER MARKET, BY OVERHEAD LINE VOLTAGE 18 1.1.3 GLOBAL TRACTION TRANSFORMER MARKET, BY MOUNTING POSITION 19 1.1.4 GLOBAL TRACTION TRANSFORMER MARKET, BY ROLLING STOCK 20 1.1.5 GLOBAL TRACTION TRANSFORMER MARKET, BY REGION 21 2 MARKET INTRODUCTION 2.1 DEFINITION 22 2.2 SCOPE OF THE STUDY 22 2.3 RESEARCH OBJECTIVE 22 2.4 MARKET STRUCTURE 23 3 RESEARCH METHODOLOGY 3.1 RESEARCH PROCESS 24 3.2 PRIMARY RESEARCH 25 3.3 SECONDARY RESEARCH 26 3.4 MARKET SIZE ESTIMATION 27 3.5 FORECAST MODEL 28 3.6 LIST OF ASSUMPTIONS 29 4 MARKET INSIGHTS 5 MARKET DYNAMICS 5.1 OVERVIEW 33 5.2 DRIVERS 33 5.2.1 GROWTH OF INTRACITY RAILWAY INFRASTRUCTURE 33 5.2.2 UPGRADE OF ELECTRICAL SYSTEMS IN ROLLING STOCKS 34 5.3 RESTRAINT 34 5.3.1 HIGH INITIAL INVESTMENT IN ELECTRIFICATION OF RAILWAY NETWORKS 34 5.4 OPPORTUNITY 35 5.4.1 GROWING METRO AND HIGH-SPEED RAIL IN DEVELOPING COUNTRIES 35 6 MARKET FACTOR ANALYSIS 6.1 SUPPLY CHAIN ANALYSIS 36 6.1.1 RAW MATERIAL SUPPLY 37 6.1.2 MANUFACTURE & ASSEMBLY 37 6.1.3 SALES & DISTRIBUTION 37 6.1.4 END USE 37 6.1.5 AFTERSALES 37 6.2 PORTER’S FIVE FORCES MODEL 38 6.2.1 THREAT OF NEW ENTRANTS 39 6.2.2 BARGAINING POWER OF SUPPLIERS 39 6.2.3 BARGAINING POWER OF BUYERS 39 6.2.4 THREAT OF SUBSTITUTES 39 6.2.5 RIVALRY 39 7 GLOBAL TRACTION TRANSFORMER MARKET, BY TYPE 7.1 OVERVIEW 40 7.2 TAP CHANGING 41 7.3 RECTIFIER 41 8 GLOBAL TRACTION TRANSFORMER MARKET, BY OVERHEAD LINE VOLTAGE 8.1 OVERVIEW 42 8.2 AC SYSTEM 43 8.2.1 12 KV 44 8.2.2 15 KV 44 8.2.3 20 KV 44 8.2.4 25 KV 44 8.3 DC SYSTEM 44 8.3.1 0.7KV 45 8.3.2 1.5KV 45 8.3.3 3KV 45 9 GLOBAL TRACTION TRANSFORMER MARKET, BY MOUNTING POSITION 9.1 OVERVIEW 46 9.2 UNDERFRAME 47 9.3 MACHINE ROOM 48 9.4 ROOF 48 10 GLOBAL TRACTION TRANSFORMER MARKET, BY ROLLING STOCK 10.1 OVERVIEW 49 10.2 ELECTRIC LOCOMOTIVES 50 10.2.1 FREIGHT LOCOMOTIVES 51 10.2.2 PASSENGER LOCOMOTIVES 51 10.3 HIGH-SPEED TRAINS 51 10.4 METROS 51 11 GLOBAL TRACTION TRANSFORMER MARKET, BY REGION 11.1 OVERVIEW 52 11.2 NORTH AMERICA 54 11.2.1 US 56 11.2.2 CANADA 57 11.2.3 MEXICO 59 11.3 EUROPE 61 11.3.1 RUSSIA 63 11.3.2 FRANCE 65 11.3.3 UK 66 11.3.4 GERMANY 68 11.3.5 ITALY 69 11.3.6 SWITZERLAND 71 11.3.7 SPAIN 73 11.3.8 AUSTRIA 74 11.4 ASIA-PACIFIC 77 11.4.1 CHINA 79 11.4.2 INDIA 80 11.4.3 AUSTRALIA 82 11.4.4 JAPAN 84 11.4.5 REST OF ASIA-PACIFIC 85 11.5 MIDDLE EAST & AFRICA 87 11.5.1 SAUDI ARABIA 89 11.5.2 UAE 90 11.5.3 SOUTH AFRICA 92 11.5.4 REST OF MIDDLE EAST & AFRICA 94 11.6 SOUTH AMERICA 96 11.6.1 BRAZIL 98 11.6.2 ARGENTINA 99 11.6.3 REST OF SOUTH AMERICA 101 12 COMPETITIVE LANDSCAPE 12.1 COMPETITIVE OVERVIEW 103 12.2 COMPETITIVE BENCHMARKING 104 12.3 MARKET SHARE ANALYSIS 105 12.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 105 12.4.1 PRODUCT LAUNCHES 105 12.4.2 CONTRACTS & AGREEMENTS 106

LIST OF TABLES: TABLE 1 PRIMARY INTERVIEWS 23 TABLE 2 LIST OF ASSUMPTIONS 27 TABLE 3 GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 39 TABLE 4 GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 41 TABLE 5 GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 45 TABLE 6 GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 48 TABLE 7 GLOBAL TRACTION TRANSFORMER MARKET, BY REGION, 2017–2025 (USD MILLION) 51 TABLE 8 NORTH AMERICA: TRACTION TRANSFORMER MARKET, BY COUNTRY, 2017–2025 (USD MILLION) 52 TABLE 9 NORTH AMERICA: GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 52 TABLE 10 NORTH AMERICA: GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 53 TABLE 11 NORTH AMERICA: GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 53 TABLE 12 NORTH AMERICA: GLOBAL TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 53 TABLE 13 US: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 54 TABLE 14 US: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 54 TABLE 15 US: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 55 TABLE 16 US: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 55 TABLE 17 CANADA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 56 TABLE 18 CANADA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 56 TABLE 19 CANADA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 56 TABLE 20 CANADA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 57 TABLE 21 MEXICO: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 57 TABLE 22 MEXICO: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 58 TABLE 23 MEXICO: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 58 TABLE 24 MEXICO: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 58 TABLE 25 EUROPE: TRACTION TRANSFORMER MARKET, BY COUNTRY, 2017–2025 (USD MILLION) 59 TABLE 26 EUROPE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 60 TABLE 27 EUROPE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 60 TABLE 28 EUROPE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 60 TABLE 29 EUROPE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 61 TABLE 30 RUSSIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 61 TABLE 31 RUSSIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 62 TABLE 32 RUSSIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 62 TABLE 33 RUSSIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 62 TABLE 34 FRANCE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 63 TABLE 35 FRANCE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 63 TABLE 36 FRANCE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 64 TABLE 37 FRANCE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 64 TABLE 38 UK: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 64 TABLE 39 UK: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 65 TABLE 40 UK: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 65 TABLE 41 UK: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 65 TABLE 42 GERMANY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 66 TABLE 43 GERMANY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 66 TABLE 44 GERMANY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 67 TABLE 45 GERMANY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 67 TABLE 46 ITALY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 68 TABLE 47 ITALY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 68 TABLE 48 ITALY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 68 TABLE 49 ITALY: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 69 TABLE 50 SWITZERLAND: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 69 TABLE 51 SWITZERLAND: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 70 TABLE 52 SWITZERLAND: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 70 TABLE 53 SWITZERLAND: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 70 TABLE 54 SPAIN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 71 TABLE 55 SPAIN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 71 TABLE 56 SPAIN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 72 TABLE 57 SPAIN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 72 TABLE 58 AUSTRIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 73 TABLE 59 AUSTRIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 73 TABLE 60 AUSTRIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 73 TABLE 61 AUSTRIA TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 74 TABLE 62 ASIA-PACIFIC: TRACTION TRANSFORMER MARKET, BY COUNTRY, 2017–2025 (USD MILLION) 75 TABLE 63 ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017 – 2025 (USD MILLION) 75 TABLE 64 ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 76 TABLE 65 ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 76 TABLE 66 ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 76 TABLE 67 CHINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 77 TABLE 68 CHINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 77 TABLE 69 CHINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 78 TABLE 70 CHINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 78 TABLE 71 INDIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 79 TABLE 72 INDIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 79 TABLE 73 INDIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 79 TABLE 74 INDIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 80 TABLE 75 AUSTRALIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 80 TABLE 76 AUSTRALIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 81 TABLE 77 AUSTRALIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 81 TABLE 78 AUSTRALIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 81 TABLE 79 JAPAN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 82 TABLE 80 JAPAN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 82 TABLE 81 JAPAN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 82 TABLE 82 JAPAN: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 83 TABLE 83 REST OF ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 83 TABLE 84 REST OF ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE 2017–2025 (USD MILLION) 84 TABLE 85 REST OF ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 84 TABLE 86 REST OF ASIA-PACIFIC: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK 2017–2025 (USD MILLION) 84 TABLE 87 MIDDLE EAST & AFRICA: TRACTION TRANSFORMER MARKET, BY REGION, 2017–2025 (USD MILLION) 85 TABLE 88 MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 85 TABLE 89 MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017– 2025 (USD MILLION) 86 TABLE 90 MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 86 TABLE 91 MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 86 TABLE 92 SAUDI ARABIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 87 TABLE 93 SAUDI ARABIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 87 TABLE 94 SAUDI ARABIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 88 TABLE 95 SAUDI ARABIA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 88 TABLE 96 UAE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 89 TABLE 97 UAE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 89 TABLE 98 UAE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 89 TABLE 99 UAE: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 90 TABLE 100 SOUTH AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 90 TABLE 101 SOUTH AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 91 TABLE 102 SOUTH AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 91 TABLE 103 SOUTH AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 91 TABLE 104 REST OF MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 92 TABLE 105 REST OF MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 92 TABLE 106 REST OF MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 93 TABLE 107 REST OF MIDDLE EAST & AFRICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLIGN STOCK, 2017–2025 (USD MILLION) 93 TABLE 108 SOUTH AMERICA: TRACTION TRANSFORMER MARKET, BY REGION, 2017–2025 (USD MILLION) 94 TABLE 109 SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 94 TABLE 110 SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 95 TABLE 111 SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 95 TABLE 112 SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 95 TABLE 113 BRAZIL: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 96 TABLE 114 BRAZIL: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 96 TABLE 115 BRAZIL: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 96 TABLE 116 BRAZIL: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 97 TABLE 117 ARGENTINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 97 TABLE 118 ARGENTINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 98 TABLE 119 ARGENTINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 98 TABLE 120 ARGENTINA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, ROLLING STOCK, 2017–2025 (USD MILLION) 98 TABLE 121 REST OF SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 99 TABLE 122 REST OF SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 99 TABLE 123 REST OF SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 99 TABLE 124 REST OF SOUTH AMERICA: TRACTION TRANSFORMER: MARKET ESTIMATES & FORECAST, BY ROLLING STOCK, 2017–2025 (USD MILLION) 100 TABLE 125 PRODUCT LAUNCHES 103 TABLE 126 CONTRACTS & AGREEMENTS 104 LIST OF FIGURES: FIGURE 1 MARKET SYNOPSIS 13 FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL TRACTION TRANSFORMER MARKET 14 FIGURE 3 GLOBAL TRACTION TRANSFORMER MARKET ANALYSIS, BY TYPE 15 FIGURE 4 GLOBAL TRACTION TRANSFORMER MARKET ANALYSIS, BY OVERHEAD LINE VOLTAGE 16 FIGURE 5 GLOBAL TRACTION TRANSFORMER MARKET ANALYSIS, BY MOUNTING POSITION 17 FIGURE 6 GLOBAL TRACTION TRANSFORMER MARKET ANALYSIS, BY ROLLING STOCK 18 FIGURE 7 GLOBAL TRACTION TRANSFORMER MARKET ANALYSIS, BY REGION 19 FIGURE 8 GLOBAL TRACTION TRANSFORMER MARKET: STRUCTURE 21 FIGURE 9 RESEARCH PROCESS 22 FIGURE 10 TOP-DOWN & BOTTOM-UP APPROACHES 25 FIGURE 11 NORTH AMERICA: TRACTION TRANSFORMER MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 28 FIGURE 12 EUROPE: TRACTION TRANSFORMER MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 28 FIGURE 13 ASIA-PACIFIC: TRACTION TRANSFORMER MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 29 FIGURE 14 MIDDLE EAST & AFRICA: TRACTION TRANSFORMER MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 29 FIGURE 15 SOUTH AMERICA: TRACTION TRANSFORMER MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 30 FIGURE 16 METRO RIDERSHIP (2011–2017) 31 FIGURE 17 SUPPLY CHAIN: GLOBAL TRACTION TRANSFORMER MARKET 34 FIGURE 18 PORTER'S FIVE FORCES ANALYSIS: GLOBAL TRACTION TRANSFORMER MARKET 36 FIGURE 19 GLOBAL TRACTION TRANSFORMER MARKET, BY TYPE, 2018 (% SHARE) 38 FIGURE 20 GLOBAL TRACTION TRANSFORMER MARKET, BY TYPE, 2017–2025 (USD MILLION) 38 FIGURE 21 GLOBAL TRACTION TRANSFORMER MARKET, BY OVERHEAD LINE VOLTAGE, 2018 (% SHARE) 40 FIGURE 22 GLOBAL TRACTION TRANSFORMER MARKET, BY OVERHEAD LINE VOLTAGE, 2017–2025 (USD MILLION) 41 FIGURE 23 GLOBAL TRACTION TRANSFORMER MARKET, BY MOUNTING POSITION, 2018 (% SHARE) 44 FIGURE 24 GLOBAL TRACTION TRANSFORMER MARKET, BY MOUNTING POSITION, 2017–2025 (USD MILLION) 45 FIGURE 25 GLOBAL TRACTION TRANSFORMER MARKET, BY ROLLING STOCK, 2018 (% SHARE) 47 FIGURE 26 GLOBAL TRACTION TRANSFORMER MARKET, BY ROLLING STOCK, 2017–2025 (USD MILLION) 48 FIGURE 27 GLOBAL TRACTION TRANSFORMER MARKET, BY REGION, 2018 (% SHARE) 50 FIGURE 28 GLOBAL TRACTION TRANSFORMER MARKET, BY REGION, 2017–2025 (USD MILLION) 50 FIGURE 29 BENCHMARKING OF MAJOR COMPETITORS 102 FIGURE 30 MARKET SHARE ANALYSIS, 2018 103

ABB (Switzerland), Siemens (Germany), Toshiba Corporation (Japan), Mitsubishi Electric Corporation (Japan), Altrafo Srl (Italy), Emco Limited (India), Alstom (France), JST Group (France), International Electric Co Ltd (South Korea), Schneider Electric (France), Hind Rectifiers Limited (India), CG Power and Industrial Solutions Limited (India), and WEG (Brazil)